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Property, Equipment and Software, net

12 Months Ended

Dec. 31, 2024

Property, Equipment and Software, net

Property, Equipment and Software, net

8. Property, Equipment and Software, net

The following is a summary of property, equipment and software, net (in thousands):

​

​	​	​	​	​
​		December 31,		December 31,
​	​	2023	​	2024
​	​	RMB	​	RMB
Building and decoration		4,063,468		6,888,673
Leasehold improvements		311,156		197,230
Furniture, fixtures, office and other equipment		508,185		559,271
Vehicles		106,027		93,596
Servers and computers		6,144,176		6,094,887
Software		367,472		340,038
Construction in progress		3,675,879		1,696,018
​		15,176,363		15,869,713
​	​	​	​	​
Less: accumulated depreciation and amortization		(6,923,618)		(7,181,872)
Less: impairment	​	(177,701)	​	(167,740)
Net book value		8,075,044		8,520,101

​

Depreciation and amortization expense was RMB1.1 billion, RMB769.7 million and RMB781.2 million for the years ended December 31, 2022, 2023 and 2024, respectively.

As of December 31, 2023 and 2024, the construction in progress balance mainly comprised of construction of buildings in Shanghai and Hangzhou that have not yet been placed in service for the Group’s intended use. All the related cost is capitalized in construction in progress to the extent it is incurred for the purposes of bringing the construction development to a usable state.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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